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President Bush signed yesterday Indo Us nuclear deal into law , So this means that India can count on reliable supply of nuclear fuel from the US , so finally the deal that was started on July 18, 2005 would be closed on October 10th friday after signing the 123 agreement.
India was still waiting for final approval from the US Senate for the Nuclear Deal that took part between India and Us , They have already signed the Nuclear Deal with France .So we have to say France is the first country to Sign the Nuclear Deal with us.This means that france is entering into civilian nuclear cooperation with India ,Which will open up Indian civilian nuclear sector to international nuclear trade.This nuclear deal with France covers covers a range of areas of cooperation from nuclear safety to reactor and fuel supplies. Already we are hearing that French energy firm Areva is in preliminary discussion with Nuclear Power Corporation of India to sell two reactors.So we can see some movement in Areva stock today.
I was almost awake until 4 in the morning to know if the nuclear deal is passed or not and now i hear that the Deal has been passed in the US House of Representatives.which almost ends the three-decade ban on US nuclear trade with India.It passed in the Us congress by a margin of 298-117.The Bill has finally reached Us senate for Approval which might happen coming week only.
India Gets NSG Waiver
Just got the news form all the news channel that India gets waiver from the NSG , Today it got waiver from 45 nations , which literally lifted a global ban on nuclear trade with India , So finally approving the US , so finally after a long meeting all the nations accepted because it was forced by Strong power from Us side and also after various talks by Pranab and other congress ministers they are sure that we will not test Atom Bomb again .
What else to be done
Now the remaining thing to be done for this deal is to sign the Pact in US congress which is happening on September 8th 2008,This will close that day if they sign it after 3 years of the 123 India-US bilateral agreement was conceptualized.
If it doesn’t Happen
If it doesn’t happen this September then it has to happen only in new government and never know what will happen after that .when i say new government i’m talking about US government which is going into election in November.
How it happened
Until yesterday country like Austria , New Zealand, Ireland, Switzerland, Norway where all proposing and was insisting that provisions be included in the draft on the proposed waiver that will allow NSG to terminate nuclear business with India if it conducted another test.Finally they where all happy with the statement that Mr.Pranab Mukerji reaffirmed that New Delhi’s commitment to a ‘voluntary moratorium’ .
Finally what will happen
So finally if the deal goes through in the congress then the Nuclear trade between both countries would start after 34 years when the US first did Economic sanctions on India when we did the first nuclear test in 1974.